>he is able to be part of one of the biggest megapolitical power transfers in human history >never before have citizens been able to have their assets and wealth free from predation from the state or those with greater means to violence than themselves >now all of humanity has the ability to encrypt their own value, seize control of their own assets and cut out all usury and middlemen from the chain of managing their own financial lives
And you faggots care about the short term movements in shitcoins.
I am not shitting on shitcoins. Cryptocurrency was the birth of this paradigm shift, and we should stay true to our roots and not go down the whole stripping away of legacy in the form of (((distributed ledger technology))) and other naming conventions.
But you need to see the wheat from the field lads. Rather than spending all your energy trading shitcoins for tiny profit while a literal nigger at Bitmex manipulates movements with leveraged futures and insider knowledge, why aren't you contributing to this space more?
Are you running miners and full nodes to keep the network viable?
Are you learning cryptography, game theory, dApp development - even if you just start with basic coding knowledge you will be better off in the new economy?
Are you identifying and planning new business models and industries ripe of disruption in the face of this new paradigm shift?
Are you organising your financial plans around this paradigm shift?
Are you reading and amassing knowledge via books from the cypherpunk era and beyond to ensure you have a solid foundation from which to build?
We need to disconnect trading shitcoins form being the primary focus of this space. We are going into a multiyear accumulation and stealth phase, we have plenty of time but once the floodgates break there will be NO GOING BACK.
there are serious issues with crypto that need to be solved. as it is now it's just plain ass bad for mass adoption. how many bitcoins do you think are lost never to be recovered because someone died or his computer crashed and he couldn't restore his wallet from seed after all? or civilization is not used to wealth just being burned on this scale.
i have been thinking long and hard how to secure my wealth in btc once it hits $1mil.
there are no sure and tried solution to pass your crypto inheritance to those you want or make them public if you have no heir. and a lot of other issues.
the infrastructure the legality and the solutions for mass adoption are just nowhere near there. i mean the technology is there. we already have all the pieces just nobody put them together in a trust less verifiable open and secure and convenient and hard to make mistakes way that has stood the trial of time.
i'm thinking about this a lot and it's just not good.
Luke Edwards
OP is telling you to not miss the forest for the trees and you're focusing on one single berry bush look, you're talking about implementation details. key loss is not a systemic problem in itself, it's a human problem that will be smoothed out through several layers. i.e. multisig, social recovery schemes, custodians and more. not a single one-size-fits-all solution, but a specter of levels of delegation and trustlessness
Colton Rodriguez
>key loss is not a systemic problem in itself but it is. cryptos inherently deviate from the way ownership was handled pre-crypto. you either held a physical asset that could be found or had something on you name legally or both. with crpyto that's all gone. and we are talking about ever increasing wealth here.
Matthew Flores
>and trustlessness there is nothing trustless about custodian services. if anything it's 100% trust. you give your cryptos away same with multi-sig wallets you no longer own your cryptos. it's just no good. you lose all the purity and beauty of the solution if you try to solve this issue.
David Cook
good fucking thread my nigger
Joshua Gray
Love this shit. Cyberpunk future when.
Wyatt Harris
We are already living on it, the every beginning of it at least.
Caleb Diaz
bump, agree man. things are moving quick now.
Michael Phillips
you say that but nothing actually significant happened since 2009.
Ryan Mitchell
Yea, but you also need to be careful on not losing money on some glorified shitcoin dispensers and China Hustles.
Smart Contracts is the real "revolution". We all know the one crypto that will benefit from this.
As far as crypto "currency" goes, if it can't scale then it can't be used. And even if it can scale there is still the volativity problem which brings me to my next point.
Maybe there is a way to make a stable decentralised cryptocurrency? I think MakerDao is doing it with Dai or something. I don't know how decentralised and secure it is though.
We're living in the cyberpunk future without the aesthetic. I find it funny that everyone is waiting for the cyberpunk future when they're already living in it.
Eli Turner
This user is right: Once something is out, there is no going back. Look at the early 90s when TCP/IP first came out. Could anyone imagine that those protocols would evolve into the majority of Earth being connected via a virtually instantaneous network where all of human knowledge can be found immediately?
The Greeks and Chinese tried to solve the value store problem by minting coins. That was thousands of years ago and only now have we solved that issue. Plenty of teething problems of course but there is no going back to legacy finance. All the boomers with vested interest FUDing it now will be washed away in 5-10 years just like the boomers that spread FUD over the internet during the dot com bubble.
Tech itself is shit tier right now since capitalism has encouraged FANGs to stifle out competition and centralise everything. Cracks are already starting to appear in these monoliths. The cycle should swing back to decentralised internet thanks to the new paradigm we find ourselves at the cusp of now.
The key is that normies will only lap up what is spoonfed to them. Anyone who finds themselves threatened by crypto will FUD it until the last minute to protect themselves - this goes for all large centralised legacy organisations, middle men and usurers.
The key is to realise the shift is inevitable.
Leo Young
We need a nonviolent purge of every organization that existed before the internet. Decentralization will be that wave. Lets see what happens when our totalitarian state faces disruption.
Carter Ramirez
Fuck yeah op. Spent the past months reading over our economy from an Austrian school perspective and of the federal reserve. It’s really fucking dark and depressing.
But it’s slowly becoming motivating with hope. There are options. I’m putting my money into Link for singularity and BTC.
anyone up for a Discord group to share resources and ideas?
crypto has one major task to solve before it becomes all consuming.
it has to be able to reveal secrets conditionally. for example reveal a password for a wallet at a given time. obviously oracles can provide the time in a distributed semi trustless manner. but the contract/app can't reveal any new information other than what it has at the point of publishing. but this is no good. i keep thinking about this at the very least we should be able to do the opposite. make a transaction, that only happens at a given block number (pretty easy to roughly time it) unless the input is already spent or maybe a secret is revealed to a hash that aborts the transaction. but this has issues on it's own. to do this you have to expose your public key. which is a security risk especially long term. so it's just no good.
really we need to solve this problem you have to be able to reveal in a trustless decentralized manner new information at a given time. but fuck it's hard. physical solutions in theory are possible using the speed of light as limiting factor to the timing of information but it would be extremely difficult and impractical to say the least.
Nicholas Miller
"The Sovereign Individual" is a good read about the whole government thing and future in general.
Benjamin Baker
We are currently in late stage capitalism which finds every developed nation apart from a few with unfunded debt obligations, demographic crises which are part of the contributing factor towards that and unsustainable relics in the form of government and financial institutions which have been carried over from the industrial age.
The Federal Reserve is one of those relics, as are all fiat currencies. A loss in faith is all it takes for that to come crumbling down a la the Lira, Peso, Bolivar, Rand.
I think the main problem has been the sheer pace of change since the tech boom post-WW2 combined with the haste of trying to regroup a workable global power structure to keep things in balance after the war. The industrial age structures didn't anticipate the change afforded by technological advances, but still try to chug along despite that no matter how inefficiently or corrupt.
>A loss in faith is all it takes for that to come crumbling down a la the Lira, Peso, Bolivar, Rand.
well it needs a little something else too, fore example a shit crap economy that has been utterly fucked and gutted a socialist state spending beyond it's means and revving up the money press when it can't finance it's bullshit.
Blake Baker
Its already a deflationary currency, losing it does nothing.
Landon Harris
it makes things worse also the first mass adopted crpyto will not be deflationary.
